South African hedge funds delivered a median gain of 0.75% in August, to sit 2.29% higher on the year.
By comparison, the FTSE/JSE All Share Index (total return) declined by 0.26% and is -0.94% lower on the year, while South Africa’s All Bond Index added 0.89% and is 1.85% ahead. The MSCI Emerging Markets Index added 2.09% and is -1.18% lower for the year.
The broader HedgeNews Africa Single-Manager Composite, which includes pan-African mandates, added a median 0.74% and is 1.56% lower for the year so far.
Long/short equity funds were the strongest category in August, returning a median 1.12% (-1.86% year to date).
Market neutral and quantitative funds added 0.82% to sit 6.72% higher to the end of August, while fixed income funds added 0.52%, extending their year-to-date gains to 8.27%.
Multi-strategy funds added 0.98% and are a median 3.29% lower on the year.
Amongst broader African mandates, the Pan Africa/AME Index rose 0.64%. Copyright. HedgeNews Africa – August 2020.
| Median | Mean | |||
| South African Medians | Aug-20 | YTD | Aug-20 | YTD |
| Long/Short Equity | 1.12% | -1.86% | 0.96% | 0.53% |
| Market Neutral & Quantitative Strategies | 0.82% | 6.72% | 0.63% | 5.51% |
| Single Manager Multi-Strategy | 0.58% | -3.29% | 0.67% | -1.78% |
| Fixed Income | 0.52% | 8.27% | 0.53% | 7.71% |
| Event Driven (credit) | 0.82% | 5.01% | 0.82% | 5.01% |
| African Medians | ||||
| Pan-Africa / AME | 0.64% | -17.24% | 1.32% | -12.52% |
| SA Single-Manager Composite | 0.75% | 2.29% | 0.78% | 1.70% |
| HedgeNews Africa Single-Manager Composite | 0.74% | -1.56% | 1.07% | 1.16% |